Credit Crisis Diary: 25/04/2009
Saturday 25 April 2009
A speedy U-turn from retailer Alexon
Goodness, 48 hours is a long time in the world of retail. On Wednesday, Bay Trading's parent company, Alexon, sounded confident in its latest trading statement: "New high fashion lines have been well received by customers and the fashion press and a revitalised image has been designed for Bay Trading reflecting its more fashionable proposition". So fashionable, in fact, that Alexon put the company into administration yesterday morning.
I'm Miles but you can call me Simon
Lord Taverne, and Miles Templeton enjoyed a spirited debate on yesterday's Today programme on Radio 4. Mr Templeton, director general of the Institute of Directors, got crosser and crosser as Lord Taverne explained why he is supporting moves to force companies to declare the difference between their best and worst-paid employees. It wasn't so much the argument that irritated the IoD man, but the fact that Lord Taverne kept addressing him as Simon.
The Post Office knows how to send bad news
A helpful missive from the Post Office arrives concerning its phone service. Entitled "We've been listening to what you've been saying", it explains in great detail a range of new services now on offer to customers. It's not until you get to the final paragraph of all the junk that the Post Office remembers to confess it is also whacking up charges by close to 10 per cent. Let's hope that what customers say next is they're not keen on higher bills being sneaked past them in this way.
The Bank of Essex opens its doors
We should – and do – support communities banding together to step in where the mega financial services companies have let them down. But with the best will in the world, it's difficult to suppress a smile when the triumphant announcement of the launch of the Bank of Essex arrives. Good luck to them.
A masterclass for would-be fat cats
Say what you like about the Americans, they do things properly. Chesapeake, the gas company, is facing a shareholder backlash after paying its chief executive a little over $100m last year. He also sold Chesapeake art he owned for $12m, has free use of its private jet service and the company spent $200,000 with a catering company he partly owns. Chesapeake even spends $3.5m a year sponsoring a basketball team in which he has a 20 per cent stake. Sir Fred Goodwin got a bum deal by comparison.
- 1 Paris attacks: Do not call Charlie Hebdo killers 'terrorists', BBC says
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 5 The enemy within: People who hear voices in their heads are being encouraged to talk back
Paris attacks: Do not call Charlie Hebdo killers 'terrorists', BBC says
Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Howard 'Mr Nice' Marks reveals he has inoperable cancer: 'I've had an incredible life'
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
British Muslim school children suffering a backlash of abuse following Paris attacks
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